USD/ INR: Rupee Edges Lower Against the US Dollar

USD/INR- Indian Rupee was at 73.79 as of 7:58 PM IST on 8th September. One of the leading cause for this downfall is the dollar index that strengthened by 0.43% to reach 93.11. Further, the rupee ranged between the highest of 73.37 and lowest at 73.64.

USD/ INR: Oil Prices

The WTI futures fell by 1.6% and was at USD 39.13 a barrel by 02:21 GMT. On the other hand, Brent futures for November rose by 0.6% and was at USD 42.07 per barrel. The oil prices witnessed mixed results yesterday. The increasing number of coronavirus cases in Britain, the US and India also put a considerable strain on prices. Along with this, the questions regarding the strength of the current demand recovery also negatively impacted oil prices.

USD/ INR- Gold Prices

Gold prices fell for the fourth time on Tuesday. The October gold futures fell by 0.5% to Rs. 50,803 per 10 grams on the multi-commodity exchange. Likewise, Silver futures fell by 0.6% to 67,850 per kg. In the international market, spot gold traded at $1,925.68 per ounce, indicating a decline of 0.2%.

The increase in the value of the dollar index negatively impacted gold prices as it made gold expensive for holders of other currencies. But, the increasing number of coronavirus cases and the US-China tensions did slightly affect the gold prices.

USD/ INR- Sensex Today

The Sensex ended in red on Tuesday after starting the week on a good note. That is, it was down by 0.14% and saw a 51.88 point decrease. Accordingly, it ended at 38,365.35 at 3:40 PM IST on 8th September. Similarly, the NIFTY saw a fall of 37.70 points or 0.33% and finalised at 11,317.35. Though the markets witnessed positive trends in the first half, they were impacted by the rising tensions between India and China at the LAC.

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